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Amazon to Open Brick & Mortar Bookstore in New York City
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According to the Wall Street Journal, Amazon.com, Inc. (AMZN - Free Report) is planning to open a brick-and-mortar bookstore in New York City. Reportedly, the new bookstore in Manhattan’s Time Warner Center will open its doors in the spring of this year. The new 4.000- square- foot store will open at Columbus Circle, a place popular for the erstwhile Coliseum Books.
For the last one year, Amazon has outperformed the Zacks Internet Commerce industry. It has returned 23.36% compared with the industry’s return of 14.08%.
Amazon opened its first brick-and-mortar bookstore known as Amazon Books at Seattle’s University Village shopping center in 2015. It has two more now in San Diego, CA and Portland, OR. Two more are planned for Chicago and Boston.
Amazon Bookstore Experience
Amazon offers some unique features at its book stores that set it apart from others. Books are sorted on the basis of Amazon.com customer ratings, pre-orders, and sales are displayed with their front covers containing titles. The stores also display customer reviews and sales figures with the books.
The prices are same as on Amazon.com but the books don’t have a price tag. This is Amazon’s way of making customers download the Amazon app so that they can have a look at the prices.
Books can be bought on spot or scheduled for a future delivery that Amazon takes care of just like online deliveries. The stores also showcase Amazon gadgets such as Kindle e-reader, Echo speakers and a range of Fire tablets.
In February last year, The Wall Street Journal had indicated Amazon’s plans to open 300 to 400 bookstores across the country. However, Amazon declined to comment on the report at that time.
On May 17, at Amazon’s annual shareholders’ meeting, Jeff Bezos said that, “We’re definitely going to open additional stores.”
What’s Playing in Amazon’s Mind
Though Amazon’s strategy behind going the brick and mortar way is not clear, we believe that this could make for a more personalized experience that some book readers actually prefer.
Physical stores might also help Amazon with showrooming. Its stores will have friendly sales people, helping customers in product search, installation and use of Amazon apps and even return of merchandise.
Amazon might go the brick and mortar way with other merchandise as well, targeting the considerably large customer base that still prefers to shop at physical stores. We note that every industry matures and falls. Amazon seems to be gearing up well in advance should online retail ever bottom out.
For the current year, the consensus estimate for Daktronics has gone up by 45.5% in the past 60 days. Estimates for NVIDIA and Control4 have gone up by 30.6% and 2.3%, respectively over the same time frame.
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Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>
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Amazon to Open Brick & Mortar Bookstore in New York City
According to the Wall Street Journal, Amazon.com, Inc. (AMZN - Free Report) is planning to open a brick-and-mortar bookstore in New York City. Reportedly, the new bookstore in Manhattan’s Time Warner Center will open its doors in the spring of this year. The new 4.000- square- foot store will open at Columbus Circle, a place popular for the erstwhile Coliseum Books.
For the last one year, Amazon has outperformed the Zacks Internet Commerce industry. It has returned 23.36% compared with the industry’s return of 14.08%.
Amazon opened its first brick-and-mortar bookstore known as Amazon Books at Seattle’s University Village shopping center in 2015. It has two more now in San Diego, CA and Portland, OR. Two more are planned for Chicago and Boston.
Amazon Bookstore Experience
Amazon offers some unique features at its book stores that set it apart from others. Books are sorted on the basis of Amazon.com customer ratings, pre-orders, and sales are displayed with their front covers containing titles. The stores also display customer reviews and sales figures with the books.
The prices are same as on Amazon.com but the books don’t have a price tag. This is Amazon’s way of making customers download the Amazon app so that they can have a look at the prices.
Books can be bought on spot or scheduled for a future delivery that Amazon takes care of just like online deliveries. The stores also showcase Amazon gadgets such as Kindle e-reader, Echo speakers and a range of Fire tablets.
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When Did it all Began?
In February last year, The Wall Street Journal had indicated Amazon’s plans to open 300 to 400 bookstores across the country. However, Amazon declined to comment on the report at that time.
On May 17, at Amazon’s annual shareholders’ meeting, Jeff Bezos said that, “We’re definitely going to open additional stores.”
What’s Playing in Amazon’s Mind
Though Amazon’s strategy behind going the brick and mortar way is not clear, we believe that this could make for a more personalized experience that some book readers actually prefer.
Physical stores might also help Amazon with showrooming. Its stores will have friendly sales people, helping customers in product search, installation and use of Amazon apps and even return of merchandise.
Amazon might go the brick and mortar way with other merchandise as well, targeting the considerably large customer base that still prefers to shop at physical stores. We note that every industry matures and falls. Amazon seems to be gearing up well in advance should online retail ever bottom out.
Zacks Rank and Stocks to Consider
Currently, Amazon is a Zacks Rank #4 (Sell) stock. Better-ranked stocks in the broader technology sector include Daktronics Inc. (DAKT - Free Report) , NVIDIA Corporation (NVDA - Free Report) and Control4 Corporation , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
For the current year, the consensus estimate for Daktronics has gone up by 45.5% in the past 60 days. Estimates for NVIDIA and Control4 have gone up by 30.6% and 2.3%, respectively over the same time frame.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>